POSTED: Nov 4, 2012 10:51 PM ET
MEMPHIS, Tenn. (AP) — Jason Levien, a former co-owner of the Philadelphia 76ers, has agreed to become the chief executive officer and managing partner for the new group that just took over the Memphis Grizzlies.
Chairman Robert Pera announced Sunday night that Levien will be in charge of Memphis Basketball, LLC, which operates the Grizzlies and the FedExForum arena. Levien will oversee the NBA team while acting as the ownership group's managing partner and an alternate NBA governor.
"Jason and I share a vision for building a world-class team on and off-the-court," Pera said in a statement. "He has my complete trust, confidence and support in how best to lead our organization's efforts."
Levien is a lawyer and former agent. He also was a team executive with the Sacramento Kings and was a co-owner of the 76ers until recently. He also is a general partner for Major League Soccer's DC United.
"I appreciate what a special role the Grizzlies and FedExForum play in the Memphis community, and I know that we will build successfully on the foundation already in place," Levien said.
Pera and Levien will be at a news conference Monday, along with other members of the new ownership group in Memphis, to talk about their plans for the Grizzlies. The $377 million purchase of the team was finalized within the past week.